Bitdeer Acquires $21 Million Site for Bitcoin Mining Power Plant in Canada

Bitcoin mining firm Bitdeer has acquired a 101-megawatt permitted site in Alberta for $21.7 million to build a bitcoin mining data center.

Bitdeer to Build Power Plant for Bitcoin Mining

Bitdeer, a bitcoin mining company has taken a major step toward becoming a fully integrated mining operation with the $21.7 million acquisition of land and a licensed power project in Alberta, Canada.

The purchase allows Bitdeer to construct a natural gas power plant with grid interconnection approval from the Alberta Electric System Operator (AESO). According to MinerMag, the site will also host a 99-megawatt data center dedicated to bitcoin mining.

Bitdeer expects site preparation to begin in Q2 2025, with full energization by Q4 2026. The power plant will require $90 million in capital investment, while the data center will cost an additional $30 million.

By managing proprietary ASIC chips, infrastructure, and power generation, Bitdeer aims to become the industry’s first fully integrated Bitcoin mining firm. As of December 2024, the company controlled 21.7 EH/s of hashing power, with 8.9 EH/s proprietary and 12.8 EH/s hosted for clients.

This strategic move positions Bitdeer for long-term growth and operational efficiency in the evolving bitcoin mining sector.